[Gauntlet] 2023-08-07: Arbitrum USDC - Reward Updates
Simple Summary
A proposal from Gauntlet to adjust one COMP reward distribution in the Arbitrum USDC comet.
Gauntlet recommends the following change to Arbitrum USDC rewards:
- Decrease daily COMP supply rewards from 34.73 to 10.
For more details, see the full forum post here.
Motivation
Decreasing the daily COMP supply rewards from 34.73 to 10 will result in ~$542k annual savings, in a comet that has low utilization. Compound Labs is working on launching a native USDC comet on Arbitrum, to migrate liquidity from this comet to be deprecated to the new comet.
Full proposal and forum discussion
Specification
The proposal updates the COMP supply rewards on the Arbitrum USDC Comet using the setBaseTrackingSupplySpeed method of the Arbitrum Configurator contract.
By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xea6C...c13BF7 | 330,943 | FOR |
 0x8d07...e6A265 | 70,003 | FOR |
 0x1d29...Da5D1f | 50,030 | FOR |
 0x2B38...77bf33 | 32,501 | FOR |
 Wintermute Governance | 27,501 | FOR |
VOTE POWER
Proposal Status
- Wed August 09 2023, 07:38 pmVoting Period Starts
- Sat August 12 2023, 01:51 pmEnd Voting Period
- Sat August 12 2023, 01:51 pmQueue Proposal
- Mon August 14 2023, 01:52 pmExecute Proposal
Current Results
1-FOR
540,758.8
2-AGAINST
42.801
3-ABSTAIN
N/A Tokens